CPP D Child Benefit

1

Hello,

Just a question about the children’s benefit - can this be used for household expenses/expenses related to raising your child or is it meant to be saved and given to them? (Under 18)

I feel that it would be treated as additional household funds, but I am questioning it due to the fact that it is taxable in the childs name/their income.

Sorry if this is a silly question.
Thanks!

2

It is intended to be used for the day to day expenses. Making it taxable in their name instead of your name is a tax break, since most kids won’t have any other income it will be tax free.